5 Best Dividend Stocks Under $30

In this article, we discuss 5 best dividend stocks under $30. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 12 Best Dividend Stocks Under $30. 

5. Lincoln National Corporation (NYSE:LNC)

Number of Hedge Fund Holders: 26
Share Price as of July 25: $27.8

Lincoln National Corporation (NYSE:LNC) is an American holding company that operates multiple insurance and investment management businesses. On May 25, the company announced a quarterly dividend of $0.45 per share, which was consistent with its previous dividend. The stock’s dividend yield on July 25 came in at 6.56%.

At the end of Q1 2023, 26 hedge funds tracked by Insider Monkey owned investments in Lincoln National Corporation (NYSE:LNC), worth roughly $195.3 million. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder with over 1.6 million shares.

4. Enterprise Products Partners L.P. (NYSE:EPD)

Number of Hedge Fund Holders: 26
Share Price as of July 25: $27.05

Enterprise Products Partners L.P. (NYSE:EPD) is next on our list of the best dividend stocks under $30. The American midstream natural gas and crude oil company has been raising its dividends consistently for the past 24 years. It currently pays a quarterly dividend of $0.50 per share and has a dividend yield of 7.37%, as recorded on July 25.

Enterprise Products Partners L.P. (NYSE:EPD)’s cash generation remained strong in the 12 months ending March 2023. During this period, the company generated over $6 billion in free cash flow and distributed 75% of it to its shareholders through dividends.

As of the close of Q1 2023, 26 hedge funds in Insider Monkey’s database presented a bullish stance on Enterprise Products Partners L.P. (NYSE:EPD), up from 24 in the previous quarter. The total value of stakes owned by these funds is over $254 million.

3. Coterra Energy Inc. (NYSE:CTRA)

Number of Hedge Fund Holders: 31
Share Price as of July 25: $27.06

Coterra Energy Inc. (NYSE:CTRA) is an American energy company that is involved in the exploration of hydrocarbon. In its first-quarter earnings announced in May, the company generated over $1.78 billion in revenues, which saw a 6% growth from the same period last year. Its operating cash flow stood at nearly $1.5 billion and its free cash flow amounted to $556 million.

Coterra Energy Inc. (NYSE:CTRA) offers a quarterly dividend of $0.20 per share and has a dividend yield of 7.92%, as of July 25. During its most recent quarter, the company distributed over $152 million to shareholders through dividends, which makes it one of the best dividend stocks on our list.

At the end of March 2023, 31 hedge funds tracked by Insider Monkey reported having stakes in Coterra Energy Inc. (NYSE:CTRA), compared with 33 in the previous quarter. These stakes have a consolidated value of over $435 million.

2. The AES Corporation (NYSE:AES)

Number of Hedge Fund Holders: 44
Share Price as of July 25: $21.60

The AES Corporation (NYSE:AES) is a Virginia-based power company engaged in the generation and distribution of electric power. The company was a part of 44 hedge fund portfolios at the end of Q1 2023, which remained unchanged from the previous quarter, as per Insider Monkey’s database. The stakes owned by these funds have a total value of over $1.11 billion.

The AES Corporation (NYSE:AES), one of the best dividend stocks to buy under $30, has raised its dividends each year since 2013. It currently pays a quarterly dividend of $0.1659 per share and its dividend yield on July 25 stood at 3.03%.

1. Ally Financial Inc. (NYSE:ALLY)

Number of Hedge Fund Holders: 48
Share Price as of July 25: $29.2

Ally Financial Inc. (NYSE:ALLY) is an American financial services company that operates as a diversified financial institution. The company provides a range of products and services to consumers, businesses, automotive dealers, and corporate clients. It tops our list of the best dividend stocks to buy under $30.

Ally Financial Inc. (NYSE:ALLY)’s announcement of dividend on July 17 remained in line with its previous dividend at $0.30 per share. However, the company has raised its dividends consistently for the past six years. As of July 25, the stock offers a dividend yield of 4.15%.

The number of hedge funds tracked by Insider Monkey owning stakes in Ally Financial Inc. (NYSE:ALLY) jumped to 48 in Q1 2023, from 43 in the previous quarter. Among these hedge funds, Warren Buffett’s Berkshire Hathaway was the company’s leading stakeholder in Q1.

You can skip our detailed analysis of 12 Best Solar Energy and Battery Stocks To Buy Now and 10 Best Growth Mutual Funds and Their Latest Top Picks

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